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The Real Deal NYC

Double agent: Vancouver developer spins two different stories about soaring prices

It seems Westbank tried to have its cake and eat it too. According to the South China Morning Post, the Vancouver developer advertised its properties to Chinese buyers with an apparent emphasis on investors, as opposed to buyers intending on residing in the city. Westbank reportedly noted in its advertisements for a series of informational seminars being held in Chinese cities that the Canadian city was a “gathering spot” for high net worth individuals and […]

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Smart home technology being turned into weapons for domestic abuse

From TRD Los Angeles: Technology designed to make home life easier is increasingly being wielded by domestic abusers. Shelters, particularly in the Bay Area, have documented an increasing number of cases where home security systems, thermostats, music systems and lights–all controlled with the tap of a smart phone–have been used by one spouse to torment the other, according to the New York Times. Muneerah Budhwani of National Domestic Violence Hotline recounts beginning to receive an […]

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How Carbondale, CO became a luxurious hot spot

It’s human nature to follow our stomachs to greener pastures–an instinct chef Seth O’Donovan banked on when setting up her restaurant in the tiny ranching town of Carbondale. O’Donovan is known for working at chef Thomas Keller’s three Michelin star restaurant in Napa Valley, The French Laundry. She’s since founded her own restaurant in the seemingly unlikely place of small-town Colorado, according to Bloomberg. The setting of Cardondale is actually the ideal spot, however, for […]

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Hurricane-proof homes exist. Here’s how much they cost to build

Building experts want home buyers and developers to know that it is possible to build more resilient homes that are likely to withstand extreme weather. Though most U.S. homes are not currently built to endure such extreme situations as hurricanes, flooding or wildfires, the technology is getting there, according to experts cited by Bloomberg. According to them, buyers and owners just need to know to ask for those features. For example, a more secure roof–unlikely […]

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Warehouse collapses; 9,000 barrels of whiskey spill

A warehouse at a whiskey distillery collapsed Friday damaging up to half of the barrels on site. The warehouse was built in the 1940s, while the complex, the Barton 1792 Distillery, was founded in 1879, according to Bloomberg. “We are assessing how many of the impacted barrels can be recovered,” said spokeswoman Amy Preske to Bloomberg. A total of 18,000 were stored in the facility. “A mix of various distilled products at various ages were […]

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How Bernie Madoff’s properties have fared since being sold off 10 years ago

Since Bernie Madoff went to jail about nine years ago after confessing to running an estimated $50 billion Ponzi scheme, his former homes have only risen in value. But their connection to Madoff has little do with it, according to the Wall Street Journal. “For every example that can be provided for someone that paid a premium, you can provide one or more examples of a discount,” appraiser Jonathan Miller told the Journal. Apparently, extensive […]

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Milstein lends $130M on Seaport site it long owned

Milstein Properties is having separation anxiety in South Street Seaport. The company changed its role at 250 Water Street, a one-acre parking lot and development site that it owned for nearly four decades. The company, which sold the site earlier this month, has gone from owner to lender, originating a $129.7 million loan for Howard Hughes Corporation’s acquisition of the property, according to documents filed with the city on Friday. The property was sold free of debt, […]

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The Hamptons hideaways of the rich and famous

Several homes with celebrity cachet — current and historical — have hit the market this summer. But a famous seller does not mean these properties are immune to price drops. Several homes have had to slash their asking prices on more than one occasion. Meanwhile, some A-listers are trying their luck on the rental market, offering up their homes for just a month or the whole season. Here’s a look at what some newsmakers are […]

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EB-5 investment firm fires back at former business partner over profits spat

A Downtown Los Angeles EB-5 investment firm has fired back at allegations from a former business partner that it cut him out of business profits involving a project at the Ace Hotel in New York. Young Hun Kim and 8th Bridge Capital are counter-suing Moses Choi of the Southeast Regional Center in Atlanta for $6 million, calling him a “habitual fraudster.” They filed a countersuit in U.S. District Court in Los Angeles. In December, Choi […]

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Chanel buys its Midtown headquarters

Chanel has purchased its headquarters in Midtown East for $81.5 million. The famed Parisian fashion company bought the 17-story building at 15 East 57th Street from Metropolitan Real Estate, part of the Carlyle Group, according to property records. Chanel initially signed a lease at the building in 1993 and filed plans for a $3.8 million renovation in 2016 that included expanding the retail space from the first and second floors to the first through seventh […]

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